New status gives shale gas access to incentives, website says

The National Energy Administration (NEA) has put shale gas exploration on the list of the nation’s “strategic emerging industries”, giving players in the sector access to the same policy breaks and incentives as the other industries on the list, financial information provider Hexun.com reported Wednesday, citing an NEA statement. Domestic shale gas producers will also receive direct government subsidies based on output volume, and gain exemptions from certain taxes and administration fees, the report said. The NEA also encourages local governments to set up demonstration areas for shale gas development.

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